Full steam ahead for ferry boat share offer

Ferry passengers in Bristol will soon be able to travel co-operatively. Photograph: Co operative

It's full steam ahead for an ambitious share offer which sets sail to launch a community-led transport system on Bristol's waterways.

The newly formed community benefit society is floating shares with support from The Co-operative Enterprise Hub to raise the £250,000 needed to bring the iconic yellow and blue Bristol ferries into community ownership.

Bristol Community Ferry Boats Ltd launches the community share offer six months after the popular harbour service and tourist trips were saved from going under by a group of local well-wishers.

Now, its five ferries will run for 364 days a year and in addition to regular time-tabled services forming part of Bristol's sustainable public transport network, Bristol Ferry Boats will expand to bring the excitement, heritage and nature of the City's waterways to wider community groups, youth clubs and schools.

Mark Tucker, a founder member of the newly formed co-operative, said: "This is an exciting opportunity for people to co-own and, play their part in preserving the great yellow and blue Bristol Ferries for future generations.

"The waterways are one of our City's greatest blessings. The new community benefit society will have no bank debt, it is run by experienced ferry operators, and the share price is set to encourage the widest possible ownership – we believe that this is the best possible foundation for sustainable success."

There has been a near 10% increase in UK co-operative enterprises over the last two years, rising from 5,450 (in 2010) to approaching 6,000. The Co-operative Group has committed a further £1million this year to developing its Co-operative Enterprise Hub service to support the creation and growth of sustainable community-owned enterprises.

Michael Fairclough, The Co-operative's head of community and co-operative investment, said: "Enterprises such as this demonstrate how co-operation can be key to community-led regeneration and safeguarding much-loved local assets. The general public is increasingly concerned for sustainability, accountability and transparency and, working together, they can be a powerful catalyst for change that can overcome many of the challenges that face the environment, society and economy."

The share offer was announced by Mark Tucker and popular local broadcaster Keith Warmington with the ribbon cut by Tilly Bungard, the 18 year-old daughter of ferry founders Ian and Philippa Bungard and namesake of the ferry "Matilda".

The launch will be followed by a "Free Ferry Funday" on Monday 27 May where visitors to the dockside can find out more about the community share offer.